A recent discussion on Quora focused on the best-kept secrets of successful business people. Here are some of the more popular replies.
Michael Simmons wrote that successful people often need more than just depth of knowledge—they also need a wide range of knowledge outside of their field. As an example, he mentions that Berkshire Hathaway Inc. (NYSE: BRK-B)’s Charlie Munger studies many different fields outside of finance, including microeconomics, psychology, law, mathematics, biology and engineering.
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James Altucher believes that outward success often begins with inward success. This inward success includes things like mental, spiritual, physical and emotional harmony. He recommends reading two hours per day, remembering the people in your life for whom you are most grateful, making sure you get enough sleep and always being gracious and appreciative of others.
Dan Deceuster says that business decisions always fall into one of the following categories: worst, bad, not great, good, better and best. Top-level business success is more than just making good decisions. The most successful people are constantly pushing themselves to identify and pursue only the best decisions.
Dolly Singh calls confidence “the closest thing in this world to magic.” For most major businesses to be a success, leaders need help from a number of other people. If you project a feeling of confidence about what you are doing, it will inspire confidence in others. Getting other people excited about your idea is extremely important, and confidence in a business can be contagious.
Disclosure: the author holds no position in the stocks mentioned.
Original publication: May 2, 2016
